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CIBC announced net income of $71 million for the third quarter ended July 31, 2008, compared with net income of $835 million for the same period last year. Diluted earnings per share were $0.11, compared with diluted EPS of $2.31 a year ago.
Aug. 20 (Bloomberg) -- Fannie Mae and Freddie Mac shares tumbled in New York trading to the lowest levels since at least 1990 and the bonds rose as speculation increased that the U.S. Treasury will bail out the mortgage-finance companies, wiping out shareholders.
Aug. 20 (Bloomberg) -- Fannie Mae and Freddie Mac 's success in repaying $223 billion of bonds due by the end of the quarter may determine whether they can avoid a federal bailout.
